With the constant stability of gold prices above the $1,800 resistance, talk increased in the financial markets about the possibility of moving towards the record and historical price of $2000.
The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
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Throughout last week’s trading, the GBP/USD pair was in an upward correction range taking advantage of the decline in the US dollar.
While relations between these two superpowers are quite bleak, any increase in hostilities between them will see an increase in demand for the Japanese Yen.
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The Euro continues to rally rather significantly, and at this point that is starting to become a relatively dangerous move.
The Australian dollar has gone back and forth during most of the session on Friday as we continue to see a lot of volatility.
Singapore posted a disappointing June industrial production reading, resulting in pending downward revisions to the second-quarter GDP estimate.
Sweden, usually a leader in humanitarian efforts and Top 5 countries for quality of life, continues to pay the price for its light approach to the Covid-19 pandemic.
The NASDAQ 100 has pulled back significantly during the trading session on Friday, only to find support again at the bottom of the channel and form a massive hammer.
The Argentine Peso’s erosion of value has been documented and technical charts continue to display profound weakness.
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USD/JPY: Price finally moves out of long-term range
The US dollar fell off of a cliff during the trading session on Friday, reaching down below the ¥106 level during the day.
The S&P 500 has fallen a bit during the trading session on Friday, to bring down the market towards the 3200 level.
The British pound has rallied significantly during the trading session on Friday but failed to break out above the high from several weeks ago where we had formed a shooting star.
BTC/USD: Bulls finally overcoming key resistance